Retirement

Defaqto has called for pensions educational programmes, after its own research found that 74pc of consumers have not sought any advice about planning for their retirement.

A flood of income drawdown investors have requested annuity quotations as a result of the banking bail-out, according to Living Time.

Clients are being urged to seek advice before moving Protected Rights money out of with-profit funds and into a SIPP as exit penalties introduced last week could significantly reduce the value of their pots.

The highest annuity rates for six years combined with increased longevity could boost pension income by 10%, but rates are ‘unlikely' to climb further, according to Annuity Direct.

The value of defined contribution (DC) pensions has dived £157bn over the past year, according to research from Aon Consulting.

Threadneedle has boosted its Defined Contribution (DC) pensions team following the acquisition of Invesco Perpetual's DC business earlier in 2008.

European Pensions Management (EPM) has waived the the minimum £15,000 investment in its low-cost Funds SIPP until the end of the year, to accommodate investors who want to transfer small protected rights funds.

Around half a million women are set to benefit from rule changes which would enable them to claim a full state pension from April 2010.

Just Retirement's new business figures have fallen almost 4% over the past twelve months, with equity release making up the bulk of the business slowdown.

The ABI (Association of British Insurers) is set to launch a new industry-wide electronic information exchange in December which should help cut OMO payment times to an initial 30 days.